Share this article
Crypto Exchange CoinDCX Hits Unicorn Status in India First: Report
Funding will be used to double the exchange's staff to 400 employees.
Updated Sep 14, 2021, 1:37 p.m. Published Aug 10, 2021, 1:47 a.m.
Indian crypto exchange CoinDCX has raised 6.70 billion rupees (US$90 million) from investors in a funding round that values the exchange above $1 billion.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The unicorn status is a crypto industry first in the country with a population of 1.33 billion, Bloomberg reported Monday.
- Led by Facebook co-founder Eduardo Saverin’s B Capital Group, the funding round came in $10 million to $20 million less than initial targets, as reported by CoinDesk in July.
- Other investors included Coinbase, Polychain Capital, Block.one and Jump Capital.
- Funding will go toward doubling the exchange's staff in the next six months to about 400 employees.
- The move marks a major achievement in the face of regulatory uncertainty relating to Indian officials' stance toward cryptocurrencies.
- CoinDCX said it hopes to bolster its user numbers from 3 million to 50 million over the next few years, according to the report.
Read more: India’s Central Bank Considering Pilot Programs for CBDC: Report
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
